EQT Sees Unusually Large Options Volume (NYSE:EQT)

Key Points

• EQT saw unusually heavy options activity, with investors buying 75,664 put options on Wednesday — about 311% above the average daily put volume.
• Insiders have been selling shares, including Director Vicky A. Bailey and EVP Sarah Fenton, with insiders selling 107,706 shares worth about $5.9 million over the last three months.
• The company recently beat earnings expectations, reporting $2.33 per share versus the $2.01 consensus, while analysts still maintain a Moderate Buy rating and an average price target of $68.83.

EQT Corporation (NYSE:EQT - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors bought 75,664 put options on the stock. This is an increase of 311% compared to the average daily volume of 18,408 put options.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,116 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Fenton sold 4,876 shares of EQT stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.49, for a total value of $314,453.24. Following the sale, the executive vice president directly owned 52,953 shares of the company's stock, valued at $3,414,938.97. This represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 107,706 shares of company stock worth $5,917,367 in the last three months. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On EQT

Hedge funds have recently added to or reduced their stakes in the stock. Greykasell Wealth Strategies Inc. bought a new position in EQT in the 4th quarter worth about $26,000. Aventura Private Wealth LLC bought a new stake in shares of EQT in the 4th quarter worth $31,000. Fortitude Family Office LLC increased its holdings in shares of EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after purchasing an additional 202 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in shares of EQT during the fourth quarter valued at $49,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 1.0%

Shares of EQT stock traded up $0.55 during trading on Wednesday, reaching $53.24. The company's stock had a trading volume of 2,080,676 shares, compared to its average volume of 8,822,621. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT has a 52-week low of $48.47 and a 52-week high of $68.24. The firm's 50-day moving average is $57.64 and its two-hundred day moving average is $57.65. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 10.12 and a beta of 0.55.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, sell-side analysts anticipate that EQT will post 4.7 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT's payout ratio is 12.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stephens cut their price objective on EQT from $78.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on shares of EQT from $68.00 to $72.00 and gave the company an "overweight" rating in a research report on Tuesday, March 17th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $69.00 price target on shares of EQT in a report on Wednesday, April 15th. Roth Mkm restated a "neutral" rating on shares of EQT in a research report on Tuesday, April 14th. Finally, Barclays lifted their price objective on shares of EQT from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.83.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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